Singapore Property

Singapore provides a wide range of accommodation facilities in the
form of public housing estate and private housing facility to support
its huge local population and also the foreigners. Buying or renting the
most appropriate apartment or house requires a lot of effort and consideration.

An
effective house hunt procedure can greatly help in getting the ideal
property at competitive market rate. Before deciding on buying or renting a house one has to consider few factors that are the budget, location, type of house and amenities available.

Types of Homes

Housing
facility in Singapore is primarily provided by the public housing
facility under the Housing and Development Board. Over 80% of
Singaporeans reside in these housing estates. These estates have access
to schools, clinics, food outlets, supermarket, recreational facility
and an excellent transport network at close proximity. Though an
expatriate has to fulfill certain criteria, there are various schemes
available for buying or renting an apartment in these HDB Estates.

Private housing includes condominiums, apartments and landed property that are developed by private concerns. Certain guidelines have to be fulfilled to buy or rent such property.

Location Guide

Location
of the house is of prime importance before deciding to own or rent a
house. For this one has to consider various factors that are most
convenient and suitable to oneself and one's family. These include
closeness to one's work place, spouse workplace, kids' school, shopping
area, food outlets and easy access to road and rail transport.

Amenities Guide

Depending
on personal choice one has to consider all the amenities available
nearby. Many housing estates offer world class amenities that comprise
shopping malls, hotels, parks, entertainment and recreational
facilities. Preference of having an MRT station as well as bus
interchange can also be regarded as convenient transport facility before
opting for a residential home.

Price Guide

The
prospective buyer has to decide on the budget that he has set aside for
investment in residential housing. Any expatriate has to see whether
their company is providing for the housing facility or they have to bear
it themselves. Thereafter one has to fix a reasonable range that can be
$2,000 to $5,000 or other flexible range before opting for an apartment
of personal choice. If the monthly budget set aside is of high range
then one can opt for a luxurious flat with added facility of gym,
swimming pool and tennis court.

Sources (Agencies, Properties consultants, Brokers)

Property consultants, brokers and agencies
in Singapore make property buying and renting hassle free and easy. It
also saves a lot of time and money of the prospective investor while
looking for an ideal residential property. These consultants and brokers
cater to all specific needs and requirements of property investor.

Things that foreigners/expatriates should do

After
deciding on their budget, location, amenities and facility a foreigner
or expatriate can consult a reliable agent or broker to meet their
specific housing needs. Thereafter they can ascertain the value of the
property in order to obtain a loan. Financial institutes and various
banks grant loan to all foreigners after fulfilling certain criteria.
Thereafter all purchase formalities and documentation has to be done.
The buyer can also opt for inspecting the property before taking over
the property.

Conclusion

Singapore's
booming economy and a progressive real estate property market has led to
an ever growing demand among property buyers. Foreigners and
expatriates can make easy and cost effective purchases or rent an
apartment by following these house hunting guides. These tips and house
hunting guides should be considered and evaluated properly to obtain the
most suitable apartment of your choice.